The precipitous slump in Apple's market value reflected fears that it would register its first decline in iPhone sales in the first quarter to 26 December. Although the landmark moment didn't transpire, analysts still expect it to happen this year. Meanwhile, Alphabet overtook Apple after it broke out its more speculative ventures or 'moonshots' - such as self-driving cars and Nest thermostats - in its fourth-quarter results. Investors cheered the strength of the core business and the manageable losses from the fledgling activities.
The gap between the two group's market values means Apple's position looks safe for now, but Alphabet's time could still come.
